ATHA Energy's Drilling Success & Strategic Land Acquisition Boost Angilak Project Potential

• ATHA Energy completed a successful 10,000m drilling program at Angilak Project. New mineralized trends identified: Lac 48, Lac 52, and Lac 54.
• The company's project area expanded by 69,704 hectares, now totaling 158,447 hectares.
• The identification of multiple new mineralized trends parallel to the Lac 50 Trend suggests the possibility of a larger uranium system than previously recognized.
• With a historical resource of 43.3 million pounds at an impressive average grade of 0.69% U₃O₈, and previous drilling intersecting grades as high as 7.54% U₃O₈ over 1.6 meters, Angilak demonstrates significant potential for valuable uranium mineralization.
• ATHA Energy demonstrated its ability to expand known mineralization and has established a track record of discovering new mineralized trends with the efficient and successful execution of the exploration program.

ATHA Energy Corp. (TSXV:SASK) is emerging as a significant player in the uranium exploration sector, holding the largest exploration portfolio in two of the world's highest-grade uranium districts. The company's flagship Angilak Project in Nunavut hosts the Lac 50 Uranium Deposit, one of the largest high-grade deposits outside the Athabasca Basin. With a strategic focus on clean energy futures, ATHA is actively engaged in the acquisition, exploration, and development of uranium assets. The company's portfolio includes three 100%-owned post-discovery uranium projects with historical resource estimates totaling over 57 million lbs U₃O₈, positioning ATHA as a key player in the pursuit of meeting future uranium demand.

Successful Completion of 2024 Angilak Exploration Program

ATHA Energy has announced the successful completion of its 2024 Exploration Program at the 100%-owned Angilak Project in Nunavut. The program, which ran from early June to late August, was completed on budget and achieved all its objectives. Here are the key highlights:

• Drilling Campaign: 25 diamond drill holes completed, total drilling of approximately 10,051 meters which is focused on expanding the Lac 50 Trend and exploring regional targets.
• Expansion of Known Mineralization: Successfully expanded the historic footprint of mineralization along the Lac 50 Trend. All drill holes at Lac 50 intersected uranium mineralization outside of historic mineralized domains.
• Discovery of New Mineralized Trends: Identified three new parallel mineralized trends: Lac 48, Lac 52, and Lac 54. These trends remain open in all directions, indicating high prospectivity for further discovery.
• Regional Exploration Success: 13 holes completed at prospective regional targets proximal to the Lac 50 Trend where all holes discovered new lenses of uranium mineralization or identified prospective structures.

The success of this exploration program demonstrates the significant potential for resource growth at the Angilak Project. The identification of multiple new mineralized trends parallel to the Lac 50 Trend suggests the possibility of a larger uranium system than previously recognized.

Expansion of Angilak Project Land Package

Following its successful drilling campaign, ATHA Energy has taken a strategic step to consolidate its position in the region by significantly expanding its land package. The company has staked an additional 69,704 hectares within 48 mineral claims, bringing the total Angilak Project area to an impressive 158,447 hectares. This expansion includes the acquisition of the entire prospective Lac 50 structural corridor and an additional parallel prospective corridor, both related to the Snowbird Tectonic Zone, a deep crustal structure extending from the Athabasca Basin.

The strategic importance of this land acquisition cannot be overstated. By securing these key areas, ATHA has not only captured the margins of the Angikuni Basin, increasing the prospectivity for unconformity-style uranium deposits, but also solidified its dominant position along key structural corridors. This expansion significantly enhances ATHA's exploration footprint and potential for new discoveries in the region, providing the company with full control over a highly prospective uranium trend and positioning it for future growth in the uranium sector.

Detailed Exploration Results

The 2024 exploration program at Angilak yielded promising results across multiple areas:

Lac 50 Trend

• 12 holes drilled for a total of 4,884 meters
• All holes intersected uranium mineralization outside of historic mineralized domains
• Extended the footprint of mineralization along a 3.9 km strike length

Lac 48 Trend

• Located approximately 1 km southwest of the Western-Extension Zone at Lac 50
• One hole drilled at the Blaze target intersected high-grade mineralization
• Peak reading of 10,642 cps at 94.9 m depth

Lac 52 Trend

• Located about 750 m north of the Main Zone at Lac 50• Eight holes drilled along a 5.2 km long corridor•
• Highlights include: Hole PL-DD-030: High-grade mineralization with a peak of 30,273.4 cps, and Hole ML-DD-009: High-grade mineralization with a peak of 14,870.5 cps

Lac 54 Trend

• Located approximately 1.5 km north of the J4/Ray Zones
• Four holes drilled, all intersecting uranium mineralization
• Extended the mineralized strike length to about 1.1 km

These results demonstrate the potential for significant expansion of the known uranium mineralization at Angilak, both within the historic Lac 50 Trend and in newly identified parallel trends.

Geological Significance & Future Prospects

The success of the 2024 exploration program at Angilak has several important implications:

• Geological Understanding: Improved clarity on lithological and structural controls on mineralization and continuity between historic mineralized domains. Also enhanced the understanding of Angilak's uranium system's extent and characteristics.
• Exploration Potential: All identified trends (Lac 48, Lac 50, Lac 52, and Lac 54) remain open in all directions. Untested areas between newly identified trends are prospective for additional discoveries and the expanded land package increases the likelihood of further significant finds.
• Resource Growth Potential: Expansion of known mineralization beyond the 2013 historic resource model. Discovery of new mineralized trends suggests potential for substantial resource additions and the improved geological understanding may lead to more efficient future exploration

The geological picture emerging at Angilak suggests a potentially large and complex uranium system with multiple parallel mineralized trends. This bodes well for future exploration efforts and the potential for significant resource growth.

Market Position & Strategic Advantages

ATHA Energy's recent successes at the Angilak Project have positioned the company favorably within the uranium exploration sector. At the heart of this advantage is the high-grade potential of the Lac 50 Deposit, which stands as one of the largest high-grade uranium deposits outside the renowned Athabasca Basin. With a historical resource of 43.3 million pounds at an impressive average grade of 0.69% U₃O₈, and previous drilling intersecting grades as high as 7.54% U₃O₈ over 1.6 meters, Angilak demonstrates significant potential for valuable uranium mineralization.

The company's strategic land position further bolsters its market standing. ATHA now holds the largest exploration portfolio in two of the world's highest-grade uranium districts. This expansive footprint includes control over entire prospective corridors related to the Snowbird Tectonic Zone, offering potential for both basement-hosted and unconformity-style deposits. Such a diverse and extensive land package provides ATHA with numerous exploration targets and the flexibility to pursue the most promising prospects.

ATHA's exploration success to date has been noteworthy. The company has demonstrated a clear ability to expand known mineralization and has established a track record of discovering new mineralized trends. The efficient and successful execution of exploration programs, as evidenced by the recent drilling campaign, speaks to the technical competence of ATHA's team and bodes well for future exploration efforts.

Lastly, ATHA's timing in the market appears opportune. As the company advances its projects, it is well-positioned to capitalize on potential uranium supply deficits. The current favorable uranium market environment provides a backdrop against which ATHA can leverage its high-grade assets and exploration successes, potentially attracting increased investor interest and industry partnerships.

These factors combine to give ATHA Energy a strong position in the uranium exploration sector, with significant potential for value creation as the company advances its projects.

Building Confidence & Company Outlook

ATHA's management team has expressed enthusiasm about the recent developments. CEO Troy Boisjoli commented:

"We are extremely excited about the results from our work at the Angilak Project. The successful identification of uranium mineralization along strike at the deposit, combined with the confirmation of uranium mineralization across multiple proximal parallel trends, underscores the immense potential of this project. These results not only extend the footprint of known mineralization but also illuminate new opportunities for significant resource growth. We believe this progress marks a pivotal moment for ATHA as we execute an aggressive growth strategy at a time when the uranium industry is facing a potential unprecedented structural supply deficit."

Cliff Revering, VP Exploration, added:

"The objectives we had set for ATHA's 2024 drilling at Angilak were to expand the footprint of mineralization of the historic Lac 50 mineralized domains, as well as to identify new zones of mineralization within the main Lac 50 Trend and proximal exploration target areas, and we are very happy to report that we were successful in achieving both primary objectives. The combined results from our drilling campaign and surficial mapping program have allowed us to build on the understanding of the lithological and structural controls on mineralization within this highly prospective uranium district."

Key Takeaways

For investors considering ATHA Energy, several key points emerge:

• Exploration Success: The company has demonstrated its ability to expand known mineralization and discover new trends, indicating strong exploration competence.
• Strategic Asset: The Angilak Project, with its high-grade potential and expanding footprint, represents a significant asset in the uranium exploration sector.
• Market Positioning: ATHA is well-positioned to benefit from potential uranium supply deficits, with a large exploration portfolio in high-grade districts.
• Growth Potential: The expansion of the Angilak Project area and the identification of multiple mineralized trends suggest substantial room for resource growth.
• Experienced Management: The company's leadership has shown the ability to execute successful exploration programs and strategically expand its land position.
• Market Timing: With growing interest in nuclear energy and potential supply constraints, ATHA's advancing projects could attract increasing attention.

While investing in exploration-stage companies carries inherent risks, ATHA Energy's recent successes at Angilak, combined with its strategic positioning in the uranium sector, present an interesting opportunity for investors looking to gain exposure to the uranium exploration market. As always, potential investors should conduct their own due diligence and consider their risk tolerance before making investment decisions.